The Ministry explained the improvement in Russia’s rating by reducing dependence on oil

Moody’s raised the rating of Russia in connection with government action to reduce oil dependency, said Finance Minister Anton Siluanov. Previously, the Agency rating change explained similar reasons

Finance Minister Anton Siluanov said that the Ministry welcomed the decision of Moody’s to raise its Outlook on the credit rating of Russia. About it reports “RIA Novosti”.

“Improving the forecast became possible due to active actions of the government aimed at reducing the dependence of the Russian economy from oil and gas revenues and the gradual replacement of sovereign wealth funds”, — said Siluanov.

In his opinion, raising Russia’s rating, experts of Agency Moody’s joined to “his colleagues of the “big three”, which took a similar decision last year. Now all three of the Agency “confirmed the stabilization of the Russian economy, its way out of recession”, said the Minister.